• Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.
  • Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.

European Ponzi Goes Full Retard As EFSF Found To Monetize... Itself

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Sat, 11/12/2011 - 22:37 | 1872896 Earl of Chiswick
Sat, 11/12/2011 - 23:02 | 1872934 Chris Jusset
Chris Jusset's picture

I bet Charles Ponzi never imagined that he would become the role model of every central banker in the world.

Sat, 11/12/2011 - 23:11 | 1872956 dlmaniac
dlmaniac's picture

I'll cover my monthly mortgage payment this way.

Sat, 11/12/2011 - 23:23 | 1872977 redpill
redpill's picture

Oh, you're one of the three people still making them?

Sun, 11/13/2011 - 00:32 | 1873092 flacon
flacon's picture

Transforming "nothing" into "something". Creation ex-nihilo. I thought only God could do that... oh... I forgot... Lord Blankfein is God's fat little cherub and can do it too. Turns out there are fat little cherubs in Europe too - just doing "God's work".

Sun, 11/13/2011 - 01:32 | 1873167 trav7777
trav7777's picture

wtf, is the EU delusional enough to think there are actually cash size buyers out there willing to buy into a supranational CDO like the EFSF??!?  The ONLY BUYER of paper at this point is a CB.  They can't be stupid enough to think that there is more leverage out there to be had from the general economy.

Would YOU buy into a CDO composed of one nation (Germany) that has a freakin budget under control when the entire rest of the union (inc France) cheated and lied their asses off to get in?

There isn't another sovereign in the EU that won't be discovered to have done the same cashflow swaps as Italy did to cheat under the deficit tagets, besides Germany.

Sun, 11/13/2011 - 02:26 | 1873195 sqz
sqz's picture

The move, by the European Investment Bank, will cause more disquiet among non-eurozone EU members who have become concerned about their growing exposure to the cost of rescuing the currency bloc.

Uh, woot?!

Could be a bit more specific about EIB's involvement here, if it is anything other than operational.

Sun, 11/13/2011 - 05:35 | 1873347 French Frog
French Frog's picture

This weekend, on one side you have the Europe's supposed saviour (the EFSF) that is found to be useless and on the other hand you have Silvio resigning (which at a stroke makes all of Italy's problems disappear lol) ... as far as the money markets are concerned, this should make for a very bullish coming week.

If enough participants see/hear enough news that can 'justify' a bullish stance, then they can perpetuate the whole circus for another day/week .... For a while (forever?), it hasn't been about what IS happening (in front of you or in the background) but how to manage the illusion!

Sun, 11/13/2011 - 08:57 | 1873465 MillionDollarBonus_
MillionDollarBonus_'s picture

It's understandable that doomer crackpots would have a tough time understanding this move by the EFSF, but in order to reach their level of intelligence you need to think outside the box. If you just think for a moment, this move makes PERFECT sense. What the EFSF has done is deliberately issue bonds in a quantity in which they did not expect to find sufficient bidders. They then buy the unsold bonds themselves to create the impression of a more successful auction. Market participants refuse to recognise the genius of the EFSF, and hence they need to be confused into believing in it for their own good.

 

 

Sun, 11/13/2011 - 10:18 | 1873507 Dick Darlington
Dick Darlington's picture

Just when i thought that it's nearly impossible to push more shit into the world packed full of shit, here comes MDB with a huge truckload of fresh shit. I think now would be an appropriate time to raise the "full retard" card once again.

Sun, 11/13/2011 - 10:46 | 1873534 ratso
ratso's picture

There is a difference between going broke and being worth less.  As long as a country can print money it is not officially broke - just increasing ly worth less.  Now the Eurozone on the other hand, that's a different matter....

Sun, 11/13/2011 - 12:50 | 1873692 derek_vineyard
derek_vineyard's picture

i called my son a retard for putting carbonated soda in the freezer.....his friends mom heard me and i was arrested for child endangerment and hate crimes

Sun, 11/13/2011 - 13:37 | 1873752 Pegasus Muse
Pegasus Muse's picture

The world financial system is constipated with fiat ponzi paper and bankster scams like an impacted colon is with shit.  It's enema time.   

So are there big leadership changes in store for Italy and Greece?  Nah.  News bosses same as the old ones:  

Global Insights
Fri, Nov 11, 2011
WHO ARE THESE MEN?

http://www.traderview.com/Global_Insights.cfm  

 

Sun, 11/13/2011 - 12:23 | 1873527 jcaz
jcaz's picture

No question, MDB- you've reached a "new" level of intelligence....

Now run upstairs and tell your mommy that you're winning on this board....

Sun, 11/13/2011 - 10:47 | 1873535 knukles
knukles's picture

Perfect?

Perfection is an illusion of arrogance.

Sun, 11/13/2011 - 10:56 | 1873541 knukles
knukles's picture

Perfect?

Here's what let's do, MDB.

You write a check off of your very own checking account.  Write it to yourself.  Take said check and deposit it into your own checking account off of which you just wrote it.  What have you accomplished?  Nothing, except wasting paper, ink and time.

Now annonce to world that you have solved your financial problems by virtue of said activity.  What have you accomplished?
Confirmed our suspicions that you're barin-damaged. 
(Or else a paid for by fucking who knows or cares to try to sway opinion.... Well, we always need somebody to ridicule, so thanks anyway.)

And, having acted as your JP Morgan to your ESEF, you can write me a check for $1,000,000. 

Perfect.

 

Sun, 11/13/2011 - 20:25 | 1874344 Estrella
Estrella's picture

He is good. You really do have a gift.

Sun, 11/13/2011 - 01:38 | 1873177 Comay Mierda
Comay Mierda's picture

Twilight zone. I'm going to learn how to live by eating my own shit.

Sun, 11/13/2011 - 09:55 | 1873422 Zero Govt
Zero Govt's picture

it's an ever decreasing circle of lower nutrient shit 

Sarkozy is full shit, Merkal is shit on toast and the British Govt wants in on all this shit just as it hits the fan

friggin clueless lot politicians

Sun, 11/13/2011 - 13:40 | 1873766 Pinworm
Pinworm's picture

Good stuff

Sat, 11/12/2011 - 23:14 | 1872963 redpill
redpill's picture

Biying your own bonds, how very masturbatory!

Sat, 11/12/2011 - 23:19 | 1872970 Karl Tashjian
Karl Tashjian's picture

Self improvement is masturbation. Now self destruction...

Sun, 11/13/2011 - 10:59 | 1873545 disabledvet
disabledvet's picture

That does sound painful.

Sun, 11/13/2011 - 01:29 | 1873164 Al Gorerhythm
Al Gorerhythm's picture

The very meaning of circle jerk.

Sun, 11/13/2011 - 11:43 | 1873590 Fidel Sarcastro
Fidel Sarcastro's picture

The EFSF just did a Ron Jeremy.

Sun, 11/13/2011 - 02:55 | 1873261 Pitchman
Pitchman's picture

Chris Jusset said: "I bet Charles Ponzi never imagined that he would become the role model of every central banker in the world."

And the inevitable result: http://kuroiso.org/

 

Life After An EMP Attack: No Power, No Food, No Tr...

Sat, 11/12/2011 - 23:28 | 1872967 RiverRoad
RiverRoad's picture

Isn't it comforting and assuring to know that JPM is doing the same advising for the EU that Goldman did for Greece?  

Sun, 11/13/2011 - 02:57 | 1873272 Pitchman
Sat, 11/12/2011 - 23:35 | 1872998 tmosley
tmosley's picture

And here I was hoping for a Futurama reference.

"Like I'm going to take lessons in not messing with the timeline from Mr. I'm-My-Own_Grandpa!"

Sun, 11/13/2011 - 00:00 | 1873034 The Big Ching-aso
The Big Ching-aso's picture

 

 

I think the whole world is going cueballs.

 

 

Sun, 11/13/2011 - 01:10 | 1873142 phungus_mungus
phungus_mungus's picture

Just how BIG is that crack rock the EU is currently smoking? 

Sun, 11/13/2011 - 09:01 | 1873469 midtowng
midtowng's picture

It's the final stages of a Ponzi scheme breaking down.

The thing, we are talking about what was once considered to be the 2nd world reserve currency.

This will be HUGE.

Sat, 11/12/2011 - 22:35 | 1872897 Hansel
Hansel's picture

I thought this was most awesome when I came across it too.  With the newly installed technocrats in Italy, Greece, and at the ECB, I doubt they care that they are sniffing their own brand.

Sat, 11/12/2011 - 22:37 | 1872899 CClarity
CClarity's picture

Agree.  The financial system has become a sham and nothing is safe.  And they did it purposefully.  But we'll find them on their private islands.  Look what is happening to "leaders" in the Middle East, North Africa, and the latest "resignations" in Greece and Italy.  Pap and Berlesque are hoping they'll be spared the gallows this way.

Sat, 11/12/2011 - 22:38 | 1872900 Drunken Monkey
Drunken Monkey's picture

Someone explain to me again why Madoff is in prison?

Sat, 11/12/2011 - 22:41 | 1872906 lolmao500
lolmao500's picture

He screwed some very important people. You don't do that or else you're done.

Screwing millions of little people? Sure. Screw one ``big`` shot of a few hundreds thousands or a million? You're gone.

Sat, 11/12/2011 - 22:59 | 1872926 TheSilverJournal
TheSilverJournal's picture

I agree, Corzine will walk.

Sat, 11/12/2011 - 23:13 | 1872949 DoChenRollingBearing
DoChenRollingBearing's picture

One way or another yes he will.  He can drag out the time until trial, and then Obama pardons him.  That of course assumes he makes it to trial, instead of Secretary of the Treasury.

Sun, 11/13/2011 - 06:52 | 1873380 mind_imminst
mind_imminst's picture

Yep, Corzine will walk. The NYTimes and Obama will make sure of that. Not only will he walk, he will probably become a Senator, governor, or bank president again.

Sun, 11/13/2011 - 12:07 | 1873630 Calmyourself
Calmyourself's picture

If there comes a reset, corzine will be jack, queen or king of spades

Sat, 11/12/2011 - 22:58 | 1872925 Jim in MN
Jim in MN's picture

The music stopped and there weren't enough chairs.  Coulda happened to any Ponzimeister.

 

Tick, tock....

Sun, 11/13/2011 - 09:35 | 1873487 kaiserhoff
kaiserhoff's picture

And will happen to them all.

Tick, tock....

Sat, 11/12/2011 - 22:40 | 1872902 Josh Randall
Josh Randall's picture

EFSF is literally playing with themselves in front of everyone - no shame guys ?

Sat, 11/12/2011 - 22:44 | 1872909 Savvy
Savvy's picture

ROFL!! So true.

Sat, 11/12/2011 - 23:20 | 1872965 Karl Tashjian
Karl Tashjian's picture

These people have no shame. They're European.

Sat, 11/12/2011 - 22:44 | 1872904 moskov
moskov's picture

EU leaders acting like Marie Antoinette in Beijing and patronizing the Chinese to give them the ''free lunch'', and threatening if you don't give us the money then your export will explode. Chinese answered: Well, F__k yeah, let it explode like your euro then. It's worth of the money. We don't care.

 

and they are calling China got a slap in the face by making a offer rejected by these pathetic losers? lol.... it makes my day

Sat, 11/12/2011 - 22:43 | 1872908 Subprime JD
Subprime JD's picture

Only a fucking fool wouldn't own gold given all the monetization of debt that is taking place. And thank god this world is full of fools as this leaves more gold for us. Print away, motherfuckerz.

Sat, 11/12/2011 - 23:13 | 1872961 philipat
philipat's picture

I predict that CB/PD will knock Gold down again in low volume trading in the Sunday overnight session.

Sat, 11/12/2011 - 23:24 | 1872978 Subprime JD
Subprime JD's picture

I love holiday discounts

Sun, 11/13/2011 - 00:32 | 1873089 DeadFred
DeadFred's picture

A holiday BOGO sale?

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